Wage Price Index - Department Of Treasury And Finance

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Wage Price Index (ABS Cat No 6345.0)
Latest quarter: December quarter 2016
Release date: 22 February 2017
Table 1: Total hourly rates of pay excluding
bonuses, December quarter 2016 nominal
Next release date: 17 May 2017
original data
The Wage Price Index is considered a more meaningful
Nominal
Index value
Quarterly
Year-average
measure of underlying wages growth than
Average
original data
2008-09 = 100
% change
% change
Weekly
Earnings, as it abstracts from structural changes
NSW
124.7
0.4
2.1
in the labour market (such as the full-time/part-time split
Vic
125.2
0.4
2.1
and industry shares) to focus on changes in wage rates
for specific positions within each selected enterprise.
Qld
125.0
0.6
1.9
SA
125.7
0.6
2.2
However, the WPI growth rates have tended to display
considerable inertia over the business cycle, as some
WA
126.2
0.2
1.7
wage growth is the result of positions being reclassified,
Tas
125.1
0.2
2.2
which is one of the factors that is abstracted in
NT
126.6
0.5
2.1
constructing the WPI.
ACT
123.7
0.4
1.9
Recent performance
Aus
125.1
0.4
2.0
The ABS estimated that Tasmanian WPI increased by
SOURCE: WAGE PRICE INDEX, ABS CAT NO 6345.0: TABLE 2B
0.2 per cent in the December quarter 2016 from the
Chart 1: Growth in total hourly rates of pay
previous quarter, in original terms. This compares to the
excluding bonuses, Tasmania and Australia,
national increase of 0.4 per cent in the same period.
nominal original data
In the year to the December quarter 2016, the
Tasmanian WPI was estimated to have increased by
4.5
Tasmania
2.2 per cent compared to the previous year, which is
4.0
Australia
0.2 of a percentage point greater than the estimated WPI
growth nationally over that period (Table 1).
3.5
Annual growth in Tasmanian wage rates was lower than
3.0
the
national
growth
rate
from
early 2011
to
early 2015 (Chart 1). However, the Tasmanian WPI
2.5
recorded an equal growth rate to the national growth
2.0
rate in mid-2015, in year-average terms, and recorded a
higher growth rate than the national average since then.
1.5
Jun 11 Jun 12 Jun 13 Jun 14 Jun 15 Jun 16 Jun 17
In the December quarter 2016, Tasmanian private sector
wages increased by 0.2 per cent, compared to an
SOURCE: WAGE PRICE INDEX, ABS CAT NO 6345.0: TABLE 2B
Chart 2: Growth in total hourly rates of pay
increase of 0.3 per cent in the public sector. Nationally,
excluding bonuses, Tasmanian public and
private
sector
wages
increased
by
0.3 per cent,
private sectors, nominal original data
compared to an increase of 0.6 per cent in the public
sector in the December quarter 2016.
4.5
Private
Year-average wage growth in both sectors has been
4.0
Public
lower in Tasmania in recent years than in mid-2011
Total
3.5
(Chart 2). In recent quarters, wage growth in the private
3.0
sector in Tasmania was higher than that in the public
sector.
2.5
2.0
1.5
1.0
Jun 11
Jun 12
Jun 13
Jun 14
Jun 15 Jun 16
Jun 17
SOURCE: WAGE PRICE INDEX, ABS CAT NO 6345.0: TABLES 3B, 4B
Department of Treasury and Finance

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